UK - The Association of British Insurers is questioning whether Financial Services Authority proposals to improve transparency in sales literature justify their costs.
The ABI says many consumers will increasingly look towards products with clearer disclosure material irrespective of whether the FSA proposals are implemented.
ABI director general Mary Francis said: “We urge the FSA not to replace one set of prescriptive rules with another.
“We question whether these proposals – costing over £100m – are consistent with the Sandler report’s emphasis on low cost, simple and flexible products.”
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.